Susan Ward of About.com’s Small Business Canada has drawn up a list of the best Business Opportunities for 2010. If you're looking for a business to start or a new angle for your business, these are some of the most promising trends and opportunities she sees.
1) Green Construction: Green materials, green techniques, and green certifications are going to be the keys to success in construction this year.
2) Green Technologies: Both loans and grants are available from governments to fund projects that attempt to solve environmental challenges.
3) Dollar/Discount Stores: Consumers will continue to be frugal and look for bargains.
4) Senior Care: Opportunities range from opening your own senior-care home through providing in-home care or home services such as preparing meals, housekeeping or running errands.
5) Renovations for seniors: Seniors needing renovations to make their lives easier and stay in their own homes longer is a niche waiting to be exploited.
6) Heating and Cooling Products and Services: High energy prices combined with government tax breaks make this traditional industry a rich niche.
7) Local Food Suppliers: Knowing where your food comes from and how it was grown or raised is all the rage.
8) Nutrition Consulting: Consumers are looking for food information tailored to their lifestyle and health concerns. It will be a banner year for nutritionists and naturopaths.
9) Social Media Marketing/Management: If you can actually deliver actual effective social media marketing campaigns (blogs, Twitter, online video, etc.), the clients will follow.
10) Business Security: Businesses continue to beef up security investments, ranging from security guards to biometric identity systems.
“Taking into account the economy, consumer and business trends,” writes Ward, “these are businesses that should be profitable not just for 2010, but for years to come.”
To read her entire article, click here.
Rick adds: I like all these trends. But if you are looking for superior opportunities, why not look at where two trends converge (e.g., just as Ward did in identifying renovations for seniors)?
The intersection points of two growing trends can create opportunity squared. So why not think about specializing in social media for renovation contractors, cheap green products (to sell through dollar stores), or security systems focusing on agribusinesses? Ride the waves!